[Featured Stock] Cosmax, strong in early trading on expectations of 3rd quarter performance

(Seoul = Yonhap News) Reporter Yuhyang Kim = Cosmax [192820] stock price is rising in the early trading on the 7th.

As of 9:16 am on the stock market today, Cosmax is trading at 307,000 won, up 3.02% from the previous day.

The stock price, which started up 4.36%, soared to 320,000 won (+7.38%) at one point in early trading.

This can be interpreted as the result of increased expectations for Cosmax's third quarter performance.

In the securities market, the target price for Cosmax continued to be revised upward.

On this day, Park Jong-dae, a researcher at Hana Securities, said that Cosmax had surpassed seasonality and predicted, “Consolidated operating profit in the third quarter will greatly exceed market expectations.”

Specifically, it was predicted that "domestic headquarters sales will grow by 45% compared to the same period last year, and sales of Chinese and U.S. subsidiaries will grow by 25% and 70%, respectively, driving performance improvement."

Researcher Park raised the target price from 305,000 won to 380,000 won, saying, “We are adjusting the performance estimate and appropriate valuation upward.” The investment opinion was maintained at 'buy'.

Daol Investment & Securities, Kyobo Securities, Hyundai Motor Securities, Shinhan Investment & Securities, NH Investment & Securities, SK Securities, and Meritz Securities also raised their target stock prices on this day. These securities firms generally predicted that Cosmax's operating profit in the third quarter would exceed market expectations thanks to the rapid progress of its domestic subsidiaries.

In particular, Kyobo Securities researcher Kwon Woo-jeong raised the target price from 310,000 won to 410,000 won. Researcher Kwon said, “It is confirmed that we have entered a period of structural acceleration in the industry compared to the past.”